By Benjamin Yeung | August 2016
In the first two parts of our series, we assumed that you had resolved to pay down some of your debt and were trying to come up with a strategy for doing so. In the introduction, we showed that having made that decision, the financial answer for the optimal strategy was relatively straightforward. In the second, we added the element of behavior, which significantly complicated the discussion.
By Gabriella Colarusso | June 2016
We all do our best to look for the cheapest and best values when planning a trip. In case you were unable to attend our Travel Workshop, our special guest Genevieve Shaw Brown, ABC and Good Morning America Correspondent, offered some insider tips to be aware of when booking travel.
By Benjamin Yeung | April 2016
The introductory part of this series covered how to determine the most efficient order to pay off loans. We identified some common reasons why the effective financial cost of a loan may not be accurately captured by its nominal interest rate and how to adjust for them. This time, we’ll tweak the situation so that we can highlight another important consideration in financial planning: behavior.
By Benjamin Yeung | March 2016
Financial advisors often get questions about how to manage debt. Does it make sense to pay off a mortgage? If you have many loans and want to start paying extra, which loan should get paid off first? Is it better to buy a car with cash or take out a loan? Is it a good time to refinance? There’s lots of advice out there about how to answer each of these questions, but what if you’re trying to decide between many different options?
By Mary Thompson | February 2016
One of the greatest stressors in life can happen when you become responsible for caring for an aging parent while still supporting your own children. The Sandwich Generation is defined by the Pew Research Center as adults who have a living parent age 65 or older and are either raising a child under age 18 or supporting an adult child. 71% of the members of this generation are age 40-59.
By Mary Thompson | January 2016
Choosing a financial advisor to help navigate the maze of financial decisions you need to make over your lifetime can be a daunting task. Financial advisors have many different designations, titles, and service offerings, which can make finding the right advisor difficult. A wealth manager can be a great choice.
By Benjamin Yeung | August 2015
When looking for help from experts in the financial world, a common concern is how to choose who to trust. Financial professionals are governed by guidelines to ensure that they do not take advantage of their privileged position. These guidelines are codified under a “standard of care.”
There are two very distinct standards of care for financial professionals: the fiduciary standard and the suitability standard.
By | April 2015
It can happen gradually or overnight, but sooner or later most adult children must coordinate care for one or both parents, a situation that puts tremendous strain on sibling relationships. The best outcomes come when family conversations are held well in advance, ideally by the time parents are in their early 70s.
By Lyn A. Dippel, JD, CFP® | November 2014
Traditionally, men have taken responsibility for managing and achieving the family's long-term financial goals. As a result, many women grew up looking to fathers, brothers and husbands for guidance. But men's and women's goals tend to differ when it comes to money.
By Lyn A. Dippel, JD, CFP® | September 2014
When I was young, I was taught to avoid debt and pay off my loans as soon as possible. While this advice is true in many cases, there are times when debt can make good financial sense. Home equity loans are a perfect example.